This week, our group is commencing the blog on IFRS. You may refer to the link below for the author’s profile. You will need to subscribe to that blog separately, since it is in a separate sub-domain.

http://faoblog.com/ifrs/about-author/

http://faoblog.com/ifrs/about-us/

Okay, we talked in detail about risks and mitigation and also about the ticket size. You have configured your transition team. You should now get these transition resources introduced to the client – either through a telephone conference or a video conference. You can cover basic educational background, a brief about the work experience and focus on their transition expertise. This will build a confidence level in your client.

As a second step, whatever pre-work that you have done should be documented and shared with your client / principals for a sign-off.

This has two big benefits:

  • You validate your understanding
  • You impress your knowledge and structured approach upon your client / principal to increase his confidence levels in you.

Before sharing this with the client, it will be a good idea to validate this with your peers or seniors, especially if they are subject matter experts or have handled similar processes earlier.

You can create high level process descriptions, process maps, your understanding of key fail points, a list of key risks and mitigations, a document on the transition methodology that you will deploy, a transition road-map (especially if you think there will be a change in the timelines as per the original plan).

So you are all set to begin the transition now.